Welcome to our dedicated page for Cal Maine Foods news (Ticker: CALM), a resource for investors and traders seeking the latest updates and insights on Cal Maine Foods stock.
Cal-Maine Foods reports developments in U.S. egg production, specialty shell eggs and egg-based prepared foods. The company produces, grades, packages, markets and distributes shell eggs, with products spanning conventional, cage-free, organic, brown, free-range, pasture-raised and nutritionally enhanced eggs for retail and foodservice customers.
Recurring updates include quarterly operating results, shell egg pricing and volumes, sales mix between conventional and specialty eggs, prepared-foods growth, acquisitions of production assets, investor-conference appearances and board governance matters. Company news also references brands such as Eggland’s Best, Land O’Lakes, Farmhouse Eggs, 4Grain, Sunups, Sunny Meadow, MeadowCreek Foods and Crepini, along with prepared-food formats including pre-cooked egg patties, omelets, hard-cooked eggs, pancakes, waffles and wraps.
Cal-Maine Foods (NASDAQ: CALM) will participate in the Bank of America 2021 Consumer & Retail Technology Conference from March 9-11, 2021. The event will be held virtually due to COVID-19. Dolph Baker, chairman and CEO, and Max Bowman, CFO, will present on March 10, 2021, at 12:30 p.m. Eastern Time, with a live audio webcast available for investors. The company is the largest producer and distributor of fresh shell eggs in the U.S., offering a variety of products, including cage-free and organic eggs.
Cal-Maine Foods reported net sales of $347.3 million for Q2 FY2021, an 11.5% increase from Q2 FY2020. The company had a net income of $12.2 million or $0.25 per share, compared to a loss of $10.1 million last year. For the 26-week period, sales rose to $640.1 million, while the net loss improved to $7.2 million. Specialty eggs accounted for 39.7% of sales, with 17.7% growth in specialty dozens sold. The company remains focused on growth in cage-free production, having invested $405 million in facilities. No dividend was declared due to cumulative losses.
Cal-Maine Foods (NASDAQ: CALM) announced a $40.1 million project to expand cage-free egg production at its Guthrie, Kentucky facility. The expansion will convert existing conventional capacity to accommodate 1.5 million cage-free hens and 300,000 pullets. Construction begins immediately, with initial conversions expected by early 2021 and completion by late 2022. The project will be funded through available cash, investments, and operating cash flow. This move aligns with increasing demand for cage-free eggs as states implement new regulations.
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Cal-Maine Foods (NASDAQ: CALM) announced the retirement of James Hull, effective October 30, 2020, after nearly 30 years with the company. Hull, who served as Vice President of Egg Products, managed the firm’s subsidiaries in Georgia and Texas. Timothy Thompson will succeed Hull while maintaining his responsibilities over Arkansas and Kansas operations, reporting to President Sherman Miller. Chairman and CEO Dolph Baker expressed gratitude for Hull's contributions to the company's growth and confidence in Thompson’s leadership for future strategies.
Cal-Maine Foods reported Q1 fiscal 2021 net sales of $292.8 million, up 21.4% year-over-year from $241.2 million. The company incurred a net loss of $19.4 million or $0.40 per share, an improvement from a $45.8 million loss last year. Total dozens sold increased by 3.8%, reflecting strong retail demand. The average selling price per dozen is up 17.8% compared to the prior year, despite volatility in egg prices. The company will not issue a dividend for Q1 due to cumulative losses of $20.8 million.